DEAを用いた日本市場における国内生保、外資系生保の効率性比較 (特集ファイナンス、経済経営リスクの諸問題 : 有馬敏則教授の退職を記念して)

概要

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Life insurance industry in Japan has entered a long-term stagnation for about 15 years, althoughJapan is one of the biggest countries in the life insurance market, because of the aggravation of macro economy and the confusion of a financial market which were caused by collapse of the bubble economy after the 1990s. The purpose of this paper is to measure change of the efficiency of the life insurance companies in Japan from 1998 to 2008, using DEA (Data Envelopment Analysis). The efficiency is consisted of technical efficiency, pure technical efficiency, and scale efficiency. As a result of analysis, it became clear that the life insurance company of Japan secured the upward trend of efficiency in spite of severe market environment. Moreover, the foreign-affiliated life insurance company expanded market share by the improvement of pure technical efficiency after the deregulation of revision of the insurance business law in the 1996. The experiment of Japanese life insurancecompanies which have faced the collapse of thebubble economy comes to the big suggestion tothe healthy growth of the life insurance businessin China and the mana g ement of insurance supervisors.